Business

Regulator Philippine Deposit Insurance Corp (PDIC) earned P34.5 million from the sale of 18 corporate and closed banks’ properties during a recent public bidding at the Bangko Sentral ng Pilipinas (BSP) – Cebu Regional Office.

The operations of the Overseas Filipino Bank (OFB) which will target some 10 million Filipinos working overseas will likely start in February after policy-making Monetary Board (MB) approved the Land Bank of the Philippines’ (Landbank) recent acquisition of the thrift bank.

State-owned Development Bank of the Philippines (DBP) seeks to expand its presence in the retail banking segment by targeting one million new depositors in the next five years, DBP President and Chief Executive Officer Cecilia Borromeo said.

The Bangko Sentral ng Pilipinas (BSP) is confident of within-target inflation in the near term after the December 2017 inflation was steady at 3.3 percent, bringing the average rate this year to 3.2 percent.

By Riza Lozada Cement manufacturers were urged to take the initiative in going green and undertaking sustainable operations.

Motukea-impacted landowner community groups in Papua New Guinea (PNG) have signed a landmark agreement with International Container Terminal Services, Inc. (ICTSI), through its subsidiary, to establish a collaborative framework needed for the joint port project to move forward.

Universal bank Union Bank’s EON project has garnered recognition from numerous international award-giving bodies.

Credit watchdog Moody’s Investors Service said the Asian Liquidity Stress Indicator (Asian LSI), which measures the strength of financial system in the region, decreased in November 2017 to 26.4 percent from 27.6 percent in October.

Telecom giant Philippine Long Distance Telephone Co. (PLDT) financial technology unit FINTQ and affiliate Smart’s Voyager Innovations are targeting to include 30 million Filipinos into the financial system by 2020 through a project in collaboration with the Liga ng mga Barangay (Liga), the association of local government units with the largest membership representing barangays nationwide.

The regulator Governance Commission for Government –owned and/or –controlled corporations (GCG) and the Institute of Corporate Directors (ICD) gave the Philippine Deposit Insurance Corp. (PDIC) the highest score in the Corporate Governance Scorecard for GOCCs for 2016.